US independent Noble is working on a slew of options to exploit up to 19 tcf of gas from its fields in the Eastern Mediterranean. It is also hopeful of discovering substantial oil, as well as gas, offshore Israel and Cyprus. Noble, at the forefront of the fledgling gas boom in the Levant basin, is weighing up the export options for its growing reserves.

The company has discovered around 40 tcf of gas in the Eastern Mediterranean, and expects to produce 2bn cfd within 10 years, executives said on 17 December. Much of this would be exported, the company envisages: pipelines, liquefied natural gas (LNG) plants in Cyprus and Egypt, and floating LNG (FLNG) facilities are all under consideration. But fraught regional politics could yet undermine these plans, especially as far as the (so far) more modest Cypriot discoveries are concerned. (CONTINUED - 1139 WORDS)